The oldest US bank, bny Mellon Grayscale bitcoin Trust, with its asset service and etf services

Grayscale Investments has lured BNY Mellon, the oldest bank in the US, to provide asset management services for the bitcoin Trust. The bank will also provide ETF services for the bitcoin trust when it is converted into an exchange-traded fund (ETF).

Shades of Grey collaborates with BNY Mellon
The company, Grayscale Investments, announced Tuesday that it has selected Bank of New York Mellon (BNY Mellon) as a service provider for Grayscale bitcoin trust (OTCQX: GBTC). Ad explains:

Under the agreement, from October 1, 2021, BNY Mellon will manage a Grayscale bitcoin Trust with consideration and management of funds. It is also expected that transfer agency BNY Mellon and ETF will provide services for the Grayscale bitcoin trust when it is converted to ETF.

“The deal provides enhanced scalability, sustainability and grayscale automation with the Sunday-leading BNY Mellon platform,” the company says.

Michael Sonnenschain, chief executive of Grayscale Investments, said:”the hiring of BNY Mellon is an important milestone as part of our commitment to turning a Grayscale bitcoin Trust into an ETF.”

BNY Mellon, the oldest bank in the US, is a global investment company represented in 35 countries. As of March 31, the bank’s assets in storage and / or administration were $ 41.7 trillion, while the assets in administration were $ 2.2 trillion. Bny Mellon created a crypto block to provide bitcoin services in February.

Roman Regelman, CEO and Digital Head of asset services at Bny Mellon, said on Tuesday: “providing core fund management services to the world’s largest digital currency asset manager once again confirms that bny Mellon is at the intersection of trust and innovation.”He added that:

This is a significant milestone in our rapidly growing digital asset capacity and in a broader strategy aimed at placing customer choices at the heart of everything we do.

What do you think of the gray values BNY Mellon has chosen for provid

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